GBPUSD Movement
On Friday, GBP traded marginally higher against the USD and closed at 1.6326, after the BoE’s latest survey raised its UK consumer inflation expectations for the next 12 months to 2.8%, from 2.6% recorded in May.
In the Asian session, at GMT0300, the pair is trading at 1.7145, with the GBP trading 0.06% lower from Friday’s close.
The pair is expected to find support at 1.7124, and a fall through could take it to the next support level of 1.7102. The pair is expected to find its first resistance at 1.7174, and a rise through could take it to the next resistance level of 1.7202.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
